Investors Says Rally Is Not Over
Cryptocurrency investor Raoul Pal shares bullish outlook Solana (Sol), indicating that despite the recent all-time highs, the altcoin may be poised for further gains. His prediction coincides with two new ETF filings featuring SOL, which could increase the cryptocurrency’s demand and visibility in mainstream markets.
For investors, this forecast is consistent with Solana’s expanding ecosystem and growth. The key question remains: How high can SOL go before hitting the ceiling of this bull cycle?
Parr expects Solana to continue climbing
Comments from friends SOL price climbs above previous peak $260. The investor, who is also the founder of cryptocurrency education platform Real Vision, said the rally is far from over, suggesting the recent rise could be the start of another incredible rally.
“SOL – It’s been a pretty smooth ride from lows to all-time highs so far. There’s still a lot to do,” Parr shared on X.
Furthermore, this prediction from Raoul Pal Solana may not surprise market observers. Since the FTX crash in 2022, Pal unanimous argument Solana is undervalued, especially after its drop to $8.
What’s even more intriguing about this prediction is its timing. It coincides with two notable developments in the institutional space: asset management giants VanEck and 21Shares ETF filing based on Solana.
The documents show growing institutional interest in Solana drive demand and reinforced bullish sentiment about its price potential.
In addition to institutional growth, retail investors have also contributed to Solana’s growth momentum. According to Token Terminal statistics, Solana’s monthly active users have increased significantly, reaching 134.6 million.
This rise reflects an increase in the number of addresses actively transacting with SOL, indicating widespread interest in the ecosystem.
Continued growth in active users generally indicates good network activity and adoption – both bullish indicators The long-term outlook for altcoins.
SOL Price Prediction: $300 Looks Doable
On the daily chart, Solana’s price is currently trading at $258.81, rising due to the formation of an inverse head and shoulders pattern. The Inverse Head and Shoulders is a bullish chart pattern that indicates a possible reversal from a downtrend to an uptrend
Additionally, the neckline connects the high points of the two troughs and serves as a key resistance level. A reversal is confirmed when price breaks above the neckline, usually accompanied by an increase in volume.
As shown below, The price of SOL has exceeded Get out of the pattern. If buying pressure increases, the altcoin could climb towards $300 in the short term.
However, a break below the support at $235.91 could push the invalid paper. In this case, the cryptocurrency could drop to $215.21.
Disclaimer
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